Rivals to weigh up bidding for Moss

MENSWEAR firm Speciality Retail Group has emerged as a potential buyer for Moss Bros in the wake of a failed bid by Joe Bloggs tycoon Shami Ahmed.

SRG, owner of the Suits You retail chain and Youngs Menswear hire business, is understood to be looking at Moss Bros with a view to a potential deal. The Moss Bros board is believed to be open to new offers.

A source close to Moss Bros said: 'Any management in this situation has to look around and, of course, there is bound to be activity between these two companies.'

Ahmed, who made a series of approaches to the company over several months, declared last week that he would not make a formal offer.

Shares in Moss, which had risen on hopes of a sale, fell sharply and directors are under pressure to prove that rebuffing Ahmed was the right tactic.